Many construction companies lose money because their Project Managers or Construction Managers have failed to understand the contract or have not acted in accordance with the contract. These failures include amongst others:1. not submitting valuations on time or with the correct supporting documentation2. not ensuring the contractor is paid on time3. carrying out work outside the project scope4. not ensuring the client meets their contractual obligations5. failing to submit claims and variations timeously6. not following the correct insurance claim procedures7. failing to meet the project milestonesIt’s therefore important the Project Manager carefully reads the contract, noting important items and asking for advice when they are unsure of anything.(This is an extract from 'Building a Successful Construction Company - The Practical Guide' by Paul Netscher)

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Copyright 2016 - The attached articles cannot be reproduced for commercial purposes without the consent of the author.The opinions expressed in the attached articles are those of the writer. It should be noted that projects are varied and different laws and restrictions apply which depend on the location of the contractor and the project. It's important that the reader uses the supplied information taking cognisance of their particular circumstances. The writer assumes no responsibility or liability for any loss of any kind arising from the reader using the information or advice contained herein.

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